Indiana Code 14-26-8-37. Contractor’s bond; requirement
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Sec. 37. A person who has successfully bid for the whole or a part of the work shall, when the work is awarded to the person, do the following:
(2) Give bond that:
(1) Enter into a contract with the surveyor to perform the work.
Terms Used In Indiana Code 14-26-8-37
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(A) must be approved by the court;
(B) is payable to the state; and
(C) is in a proper penalty for the performance of the contract;
that the person will pay all damages occasioned by nonfulfillment of the contract. The damages may be recovered in a court with jurisdiction.
[Pre-1995 Recodification Citation: 13-2-18-15 part.]
As added by P.L.1-1995, SEC.19.